From Boston to Springfield, and across the Worcester metro areas, Massachusetts has 98 hospitals all in all. Officially known as the Commonwealth of Massachusetts, this northeastern state borders the Atlantic Ocean to the east, New York to the west, and Vermont to the north. It has almost seven million residents scattered across the whole state.
Along with other smaller medical facilities and clinics, the need for medical billing companies in Massachusetts is very high. If you are one of the many locals running a medical center, a clinic, or even an everyday health care facility, tapping the help of medical billing firms can significantly improve your operations.
Implementing an EHR (electronic health record) system is critical; this can help streamline your internal workflow dramatically. You can even effectively facilitate better communication with your patients and peers, thus maintaining your organization working seamlessly.
Outsourcing your medical billing for your practice is a choice you can make, especially if you aim to help allocate your human and financial resources more effectively. But if you are still having second thoughts about the idea, here are five proven benefits that may convince you to think otherwise.
It helps lessen administrative duties.
When you tap the services of trusted and professional medical billing companies, your staff will always be updated on medical coding modifiers, changes, or sub-sets. The time they spend keying in vital information for submission of claims is reduced significantly. Some staff spends up to a few hours to obtain pre-authorizations from insurance providers. The time “wasted” here can be utilized with something else, like telling the patients about what their conditions are, or attending to portal inquiries from patients.
It automatically verifies the insurance coverage of a patient.
This is particularly helpful, especially if you usually hire part-time and temporary personnel, focusing mainly on medical billing. When you outsource, insurance verification time is reduced—no need to call insurance companies to double-check. Plus, you can even gain access to vital details about whether your patient meets (or maxed out) their coverage, or they are not eligible for insurance for different reasons.
It helps improve cash flows and minimizes operating costs.
When you hire the services of a revenue cycle management to take care of your outsourced medical billing, your revenue can boost up to 30%. How so? You are paid faster minus the effort from your temporary staff members, plus you won’t have to shell out extra money to train these staff. Based on research, companies that focus more on medical billing usually have top-of-the-line technology. Their staff is trained to get the best coding for better revenue capture. Meaning, more money is brought it, less money is spent out.
Satisfaction rates and patient engagement is improved.
Outsourcing your medical billing helps minimize your stress. You get to spend more time and focus on your patients and, thus resulting in a better quality of care. You can develop long-term relationships with your patients, especially when they feel that their nurses, lab technicians, or doctors interact with them.
Claims are processed better (and faster).
You can achieve a more efficient and productive practice when you automate your routine administrative tasks. Same-day claims submission, for example, when automated, can help improve your cash flow. The conventional paper-based claims can take for months to move because of all the channels it has to pass through before receiving reimbursements. But with automation, everything can be completed in just 7-14 days.
To find the best medical billing companies in Massachusetts, make sure you do your research. There are several options available. But for as long as you know and understand the many benefits you can get when you tap their services, finding the most suitable one is relatively easy.
